Which Accounts Are Used For The Adjustment To Office Supplies

Office Supplies And Office Supplies Expense Account Adjusting Entry Affects Which Accounts?

The adjusting entry for Office Supplies Consumed / Used during the period is shown below:

                                                              Office Supplies Expense a/c  XXX

 

                                                                                                                       Office Supplies a/c  XXX

                                                                 (OS Used And Charged To Expense In Income Statement)

Office Supplies Expense Account is debited as it is used by the business during the current accounting period and office supplies or office supplies on hand is credited as some parts of office supplies are no longer to be existed in the business. OS Expense recorded in Income Statement while OS on hand are treated as current asset and recorded on the balance sheet.